Banking Awareness Study Material 2018 Set – 310

Banking Awareness Practice Set

1. What is the interest rate of Sukanya Samriddhi Accounts as on 01st January 2018?

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Answer : 8.1% Per Annum

2. Sukanya Samriddhi Accounts can be closed after completion of

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Answer : 21 years

3. If minimum Rs __________is not deposited in a financial year, account will become discontinued and can be revived with a penalty of Rs 50/- per year with minimum amount required for deposit for that year in Sukanya Samriddhi Accounts?

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Answer : Rs 1000/-

4. Sukanya Samriddhi Accounts can be opened up to age of _______ years only from the date of birth.

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Answer : 10 years

5. What is the interest rate of KVP as on 01st January 2018?

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Answer : 7.3% compounded annually

6. The objectives of setting up of payments banks will be to further financial inclusion by providing

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Answer : Low income households

7. Acceptance of demand deposits. Payments bank will initially be restricted to holding a maximum balance of __________ per individual customer.

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Answer : Rs 1 lakh

8. Payments banks cannot issue

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Answer : credit cards

9. What is the Scope of activities of Payment Banks?

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Answer : Payments and remittance services through various channels

10. The minimum paid-up equity capital for payments banks shall be

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Answer : Rs. 100 crore


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